The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, has awarded one of its largest value contracts to date for the engineering, procurement and construction of an additional 40 apartment buildings at The Red Sea Project’s Coastal Village community.
As per the statement, the contract was awarded to Saudi firm AlKifah Contracting Company.
The 40 apartment buildings will consist of 40 blocks of single and double occupancy units, located at the destination’s Coastal Village, a new town which will eventually become home to the 14,000 employees set to operate the destination when it opens its doors by the end of 2022.
The 1.5 million m² Coastal Village area includes management offices, villas, townhouses and apartments, and a 144-room hotel.
The Red Sea Project also recently celebrated the significant milestone of signing more than 500 contracts to date, worth SAR 7.5 billion and with winning bidders spanning 24 countries.
In November 2020, TRSDC awarded its highest-value contract to date to a consortium led by ACWA Power to design, build, operate and transfer The Red Sea Project’s utilities infrastructure. The PPP agreement will deliver 100 percent renewable energy for the first phase of the project and includes the construction of the world’s largest battery storage farm. (read more)
Work is on track to welcome the first guests by end of 2022, when the international airport and first four hotels will open. The remaining 12 hotels in Phase One will open in 2023, delivering a total of 3,000 rooms across five islands and two inland resorts.
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